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TORONTO-First Capital Realty Inc. has picked up four retail assets for $75.1 million. Totaling 428,400 sf, the neighborhood and community shopping centers are located in Ontario, Quebec and British Columbia.

The largest of the lot is Port Place Shopping Centre, a 147,000-sf center in Downtown Nanaimo on Vancouver Island in British Columbia. The property is located in the Harbor District at the intersection of Terminal Park and Nicol Street. Major tenants include Thrifty Foods (27,000 sf) and London Drugs (28,000 sf). The purchase price of $19.9 million (including closing costs) was satisfied by cash and the assumption of $6.4 million of debt at a fixed rate of 5.78% due March 2011.

First Realty also acquired three properties in the greater Montreal area, including two adjacent assets. The two adjacent properties are Kirkland Centre and St. Charles Centre in Kirkland, Quebec. Located on the south side of the Trans-Canada highway at the intersection of St. Charles and Hymus Boulevard, the two centers total 114,200 sf. Major tenants include Uniprix (16,500 sf) and Dollarama (9,000 sf). The purchase price of $20.9 million including closing costs was satisfied in cash. The third property is Place Panama in Brossard, a 94,200-sf center on Highway 10 that is tucked between a 100,000-sf Loblaws supermarket and the main south shore bus terminal. The purchase price of $9.3 million including closing costs was satisfied in cash.

The fifth property is Sunningdale Village, a 73,000-sf center in northwest London, Ontario. The newly constructed center is at the northeast corner of Fanshawe Park Road and Wonderland Road. Major tenants include No Frills (37,000 sf) and Drug Mart (17,000 sf). The purchase price of $25 million including closing costs was satisfied in cash.

A First Realty Capital executive was not available Friday to provide additional detail on the assets, such as their vacancy rate. The acquisitions take First Realty Capital’s yearly investment total to $580 million, including acquisitions, developments and enhancements to existing properties. The company’s property portfolio includes 18.1 million sf in 158 properties, six of which are under development. In addition, the company owns a 19.1% stake in Equity One, a shopping center REIT focused on the Southeastern US.

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